3rd Quarter Results

Summary by AI ^BETAClose X

TotalEnergies SE reported a significant increase in its third-quarter 2026 financial results, with adjusted net income reaching $9.1 billion, a 51% rise from the previous quarter, and cash flow from operations excluding working capital (CFFO) at $12.3 billion, up 25% quarter-over-quarter. For the first nine months of 2026, adjusted net income was $20.5 billion, up 75% year-on-year, and CFFO was $30.6 billion, a 48% increase. The company's gearing ratio improved to 9.1% from 13.1% in the prior quarter, reflecting strong free cash flow generation. These positive results were driven by high refining margins, a strong gas market, and robust trading activities across its integrated business model.

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TotalEnergies SE (TTE)

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	3Q26	2Q26	Change vs 2Q26	9M26	Change vs 9M25
Cash flow from operations excluding working capital (CFFO)⁽¹⁾ (B$)	12.3	9.8	+25%	30.6	+48%
Adjusted net income (TotalEnergies share)⁽¹⁾
- in billions of dollars (B$)	9.1	6.0	+51%	20.5	+75%
- in dollars per share (fully-diluted)	4.03	2.68	+51%	9.19	+78%
Net income (TotalEnergies share) (B$)	8.3	5.4	+52%	19.5	+91%
Adjusted EBITDA⁽¹⁾ (B$)	17.8	13.2	+35%	43.5	+43%
Gearing ⁽¹⁾ of 9.1% at September 30, 2026 vs. 13.1% at June 30, 2026

3Q26	2Q26	3Q26 vs 2Q26	3Q25	In millions of dollars, except effective tax rate, earnings per share and number of shares	9M26	9M25	9M26 vs 9M25
17,809	13,179	+35%	10,295	Adjusted EBITDA ⁽¹⁾	43,540	30,489	+43%
9,712	6,871	+41%	4,659	Adjusted net operating income from business segments	22,883	13,841	+65%
3,157	3,231	-2%	2,169	Exploration & Production	8,964	6,594	+36%
1,885	807	x2.3	852	Integrated LNG	4,010	3,187	+26%
602	533	+13%	571	Integrated Power	1,680	1,651	+2%
3,601	1,800	x2	687	Refining & Chemicals	7,000	1,377	x5.1
467	500	-7%	380	Marketing & Services	1,229	1,032	+19%
1,358	1,156	+17%	692	Contribution of equity affiliates to adjusted net income	3,223	2,109	+53%
37.0%	39.3%	-	37.7%	Effective tax rate ⁽³⁾	38.3%	40.2%	-
9,097	6,027	+51%	3,980	Adjusted net income (TotalEnergies share) ⁽¹⁾	20,518	11,750	+75%
4.03	2.68	+51%	1.77	Adjusted fully-diluted earnings per share (dollars) ⁽⁴⁾	9.19	5.17	+78%
3.50	2.31	+52%	1.50	Adjusted fully-diluted earnings per share (euros) ⁽⁵⁾	7.91	4.62	+71%
2,234	2,216	+1%	2,200	Fully-diluted weighted-average shares (millions)	2,202	2,225	-1%

8,263	5,438	+52%	3,683	Net income (TotalEnergies share)	19,511	10,221	+91%

4,789	4,694	+2%	3,473	Organic investments ⁽¹⁾	14,133	12,794	+10%
(1,510)	(1,247)	ns	(381)	Acquisitions net of assets sales ⁽¹⁾	(2,929)	1,851	ns
3,279	3,447	-5%	3,092	Net investments ⁽¹⁾	11,204	14,645	-23%

12,255	9,804	+25%	7,061	Cash flow from operations excluding working capital (CFFO) ⁽¹⁾	30,635	20,671	+48%
12,634	10,188	+24%	7,443	Debt Adjusted Cash Flow (DACF) ⁽¹⁾	31,801	21,663	+47%
15,390	10,858	+42%	8,349	Cash flow from operating activities	29,609	16,872	+75%
Gearing ⁽¹⁾ of 9.1% at September 30, 2026 vs. 13.1% at June 30, 2026 and 17.3% at September 30, 2025

3Q26	2Q26	3Q26 vs 2Q26	3Q25		9M26	9M25	9M26 vs 9M25
97.0	103.8	-7%	69.1	Brent ($/b)	93.9	70.9	+32%
2.9	2.9	-2%	3.1	Henry Hub ($/Mbtu)	3.1	3.5	-11%
21.5	15.6	+38%	11.3	TTF ($/Mbtu)	17.0	12.5	+36%
22.8	17.5	+31%	11.7	JKM ($/Mbtu)	18.2	12.7	+44%
87.1	91.6	-5%	66.5	Average price of liquids ^(6),(7) ($/b) Consolidated subsidiaries	83.9	67.9	+23%
7.00	5.55	+26%	5.50	Average price of gas ^(6),(8) ($/Mbtu) Consolidated subsidiaries	6.04	5.92	+2%
12.28	10.20	+20%	8.91	Average price of LNG ^(6),(9) ($/Mbtu) Consolidated subsidiaries and equity affiliates	10.18	9.36	+9%
33.2	13.5	x2.5	8.4	European Refining Margin Marker (ERM) ^(6),(10) ($/b)	19.4	5.7	x3.4

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Scope 1+2 emissions ⁽¹²⁾ (MtCO₂e)	9M26	9M25	9M26 vs 9M25
8.5	7.3	+16%	8.4	Scope 1+2 from operated perimeter ⁽¹⁾	23.6	24.8	-5%
6.9	6.4	+8%	7.1	of which Oil & Gas	20.2	21.4	-6%
1.6	0.9	+78%	1.3	of which CCGT	3.4	3.4	-
11.7	10.2	+15%	11.0	Scope 1+2 - ESRS perimeter ⁽¹⁾	32.3	32.7	-1%

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Methane emissions (ktCH₄)	9M26	9M25	9M26 vs 9M25
4	4	-	5	Methane emissions from operated perimeter ⁽¹⁾	12	17	-29%
Estimated quarterly emissions.

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Hydrocarbon production	9M26	9M25	9M26 vs 9M25
2,474	2,395	+3%	2,508	Hydrocarbon production (kboe/d)	2,474	2,523	-2%
1,400	1,298	+8%	1,407	Oil (including bitumen) (kb/d)	1,342	1,369	-2%
1,074	1,097	-2%	1,101	Gas (including condensates and associated NGL) (kboe/d)	1,132	1,154	-2%

2,474	2,395	+3%	2,508	Hydrocarbon production (kboe/d)	2,474	2,523	-2%
1,510	1,410	+7%	1,553	Liquids (kb/d)	1,467	1,525	-4%
5,209	5,330	-2%	5,182	Gas (Mcf/d)	5,444	5,409	+1%

In millions of dollars	October 1, 2025	July 1, 2025	October 1, 2024
	September 30, 2026	June 30, 2026	September 30, 2025
Adjusted net income ⁽¹⁾	24,581	19,477	16,431
Average adjusted shareholders' equity	125,107	122,739	116,051
Return on equity (ROE)	19.6%	15.9%	14.2%

	Change	Estimated impact on adjusted net operating income	Estimated impact on cash flow from operations
Dollar	+/- 0.1 $ per €	-/+ 0.1 B$	~0 B$
Average liquids price ⁽¹⁷⁾	+/- 10 $/b	+/- 2.3 B$	+/- 2.8 B$
European gas price - TTF	+/- 2 $/Mbtu	+/- 0.4 B$	+/- 0.4 B$
European Refining Margin Marker (ERM)	+/- 1 $/b	+/- 0.3 B$	+/- 0.4 B$

	3Q26						2Q26
Net power production (TWh)	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total
France	0.3	0.2	0.0	1.5	0.0	2.0	0.3	0.2	0.0	0.6	0.0	1.2
Rest of Europe	0.2	0.4	0.2	4.5	0.5	5.9	0.2	0.4	0.2	2.7	0.4	3.9
Africa	0.0	-	-	-	0.1	0.2	0.0	-	-	-	0.1	0.1
Middle East	0.4	-	-	0.4	-	0.8	0.4	-	-	0.3	-	0.7
North America	1.5	0.5	-	1.9	-	3.9	1.3	0.6	-	1.4	-	3.4
South America	0.2	1.2	-	-	-	1.4	0.1	1.0	-	-	-	1.1
India	2.4	0.7	-	-	-	3.1	3.1	0.7	-	-	-	3.8
Pacific Asia	0.5	0.0	0.1	-	-	0.6	0.4	0.0	0.1	-	-	0.5
Total	5.5	3.1	0.3	8.3	0.7	17.9	5.9	2.9	0.3	5.2	0.5	14.8

	3Q26						2Q26
Installed power generation net capacity (GW) ⁽¹⁸⁾	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total	Solar	Onshore Wind	Offshore Wind	Gas	Others	Total
France	0.8	0.6	0.0	2.7	0.2	4.3	0.8	0.6	0.0	2.7	0.2	4.3
Rest of Europe	0.7	1.1	0.3	7.4	0.4	9.9	0.8	1.1	0.3	7.3	0.4	9.8
Africa	0.1	-	-	-	0.1	0.2	0.1	-	-	-	0.1	0.2
Middle East	0.6	-	-	0.3	-	1.0	0.6	-	-	0.3	-	1.0
North America	3.1	0.9	-	1.9	0.5	6.4	3.1	0.9	-	2.0	0.5	6.5
South America	1.0	1.2	-	-	-	2.2	0.9	1.2	-	-	-	2.1
India	7.3	0.7	-	-	0.4	8.4	7.2	0.7	-	-	0.3	8.1
Pacific Asia	1.2	0.0	0.2	-	-	1.4	1.2	0.0	0.2	-	-	1.4
Total	14.9	4.4	0.5	12.3	1.7	33.8	14.8	4.4	0.5	12.2	1.5	33.4

	3Q26					2Q26
Installed power generation gross capacity from renewables (GW) ^(19),(20)	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	1.4	0.9	0.0	0.3	2.6	1.4	0.9	0.0	0.2	2.5
Rest of Europe	0.9	1.8	1.1	0.5	4.4	0.9	1.8	1.1	0.5	4.4
Africa	0.4	0.0	0.0	0.4	0.7	0.4	0.0	0.0	0.4	0.7
Middle East	1.6	0.0	0.0	0.0	1.6	1.6	0.0	0.0	0.0	1.6
North America	7.8	2.3	0.0	1.2	11.3	7.8	2.3	0.0	1.2	11.3
South America	1.2	1.9	0.0	0.0	3.1	1.2	1.9	0.0	0.0	3.0
India	10.4	0.7	0.0	0.4	11.5	10.3	0.7	0.0	0.3	11.2
Asia-Pacific	1.9	0.0	0.6	0.0	2.6	1.9	0.0	0.6	0.0	2.6
Total	25.6	7.7	1.8	2.8	37.9	25.4	7.6	1.8	2.5	37.4

	3Q26					2Q26
Power generation gross capacity from renewables in construction (GW) ^(19),(20)	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	0.1	0.1	0.0	0.0	0.3	0.1	0.1	0.0	0.0	0.3
Rest of Europe	0.7	0.1	0.8	0.8	2.4	0.7	0.1	0.8	0.7	2.3
Africa	0.2	0.2	0.0	0.0	0.3	0.2	0.2	0.0	0.0	0.3
Middle East	1.3	0.2	0.0	0.0	1.5	1.3	0.2	0.0	0.0	1.5
North America	1.8	0.4	0.0	0.3	2.5	1.8	0.4	0.0	0.3	2.5
South America	0.7	0.7	0.0	0.3	1.7	0.7	0.8	0.0	0.3	1.7
India	0.7	0.0	0.0	0.0	0.7	0.3	0.0	0.0	0.0	0.3
Asia-Pacific	0.6	0.0	0.0	0.0	0.6	0.5	0.0	0.0	0.0	0.5
Total	6.1	1.8	0.8	1.4	10.0	5.6	1.8	0.8	1.3	9.6

	3Q26					2Q26
Power generation gross capacity from renewables in development (GW) ^(19),(20)	Solar	Onshore Wind	Offshore Wind	Other	Total	Solar	Onshore Wind	Offshore Wind	Other	Total
France	0.7	0.4	1.5	0.3	2.9	0.9	0.5	1.5	0.0	2.8
Rest of Europe	3.6	2.0	13.9	4.1	23.7	3.7	1.9	14.3	4.3	24.3
Africa	1.1	0.6	0.0	0.0	1.7	1.1	0.5	0.0	0.0	1.6
Middle East	0.8	0.0	0.0	0.0	0.8	0.8	0.0	0.0	0.0	0.8
North America	11.1	3.4	0.0	4.4	19.0	10.8	3.1	0.0	4.9	18.8
South America	0.6	1.0	0.0	0.0	1.7	0.7	1.0	0.0	0.0	1.8
India	1.0	0.0	0.0	0.0	1.0	1.4	0.0	0.0	0.0	1.4
Asia-Pacific	2.5	1.1	2.6	1.1	7.3	2.6	1.1	2.6	1.1	7.3
Total	21.6	8.6	18.0	9.9	58.0	21.9	8.1	18.4	10.4	58.8

In millions of dollars	09/30/2026	06/30/2026	09/30/2025
Current borrowings *	11,966	11,229	11,830
Other current financial liabilities	180	209	568
Current financial assets * , **	(3,327)	(3,720)	(4,607)
Net financial assets classified as held for sale *	731	114	49
Non-current financial debt *	40,960	41,157	41,296
Non-current financial assets *	(2,510)	(1,601)	(1,168)
Cash and cash equivalents	(34,208)	(27,678)	(23,415)
Net debt ( a )	13,792	19,710	24,553

Shareholders’ equity (TotalEnergies share)	132,698	128,408	115,281
Non-controlling interests	4,268	2,545	2,384
Shareholders' equity (b)	136,966	130,953	117,665

Gearing = a / ( a+b )	9.1%	13.1%	17.3%

Leases (c)	8,773	8,904	8,827
Gearing including leases ( a+c ) / ( a+b+c )	14.1%	17.9%	22.1%
* Excludes leases receivables and leases debts.
** Including initial margins held as part of the Company's activities on organized markets.

Twelve months ended September 30, 2026
In millions of dollars	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Company
Adjusted net operating income	10,769	4,932	2,244	8,001	1,570	26,646
Capital employed at 09/30/2025	66,102	43,872	26,960	7,123	7,565	149,974
Capital employed at 09/30/2026	69,581	51,030	29,648	3,087	4,671	156,226
ROACE	15.9%	10.4%	7.9%	156.7%	25.7%	17.4%

⁽¹⁾		Refer to Glossary pages 23 & 24 for the definitions and further information on alternative performance measures (Non-GAAP measures) and to page 19 and following for reconciliation tables.
⁽²⁾		Some of the transactions mentioned in the highlights remain subject to the agreement of the authorities or to the fulfilment of conditions precedent under the terms of the agreements
⁽³⁾		Effective tax rate = (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates – dividends received from investments – impairment of goodwill + tax on adjusted net operating income).
⁽⁴⁾		In accordance with IFRS rules, adjusted fully diluted earnings per share corresponds to the ratio between the adjusted net income (TotalEnergies’ share), reduced by the coupon on perpetual subordinated notes and the weighted average diluted number of shares outstanding during the period, excluding shares held by TotalEnergies SE.
⁽⁵⁾		Average €-$ exchange rate: 1.1505 in the 3^rd quarter 2026, 1.1629 in the 2^nd quarter 2026, 1.1681 in the 3^rd quarter 2025, 1.1610 in the first nine months of 2026 and 1.1188 in the first nine months of 2025.
⁽⁶⁾		Does not include oil, gas and LNG trading activities, respectively.
⁽⁷⁾		Sales in $ / Sales in volume for consolidated affiliates.
⁽⁸⁾		Sales in $ / Sales in volume for consolidated affiliates.
⁽⁹⁾		Sales in $ / Sales in volume for consolidated and equity affiliates.
⁽¹⁰⁾		This market indicator for European refining, calculated based on public market prices ($/b), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies.
⁽¹¹⁾		The seven greenhouse gases in the Kyoto protocol, namely CO₂, CH₄, N₂O, HFCs, PFCs, SF₆ and NF₃, with their respective 100-year time horizon GWP (Global Warming Potential) as described in the most recent IPCC report. HFCs, PFCs, SF₆ and NF₃are virtually absent from the Company’s emissions and are not accounted for by the Company.
⁽¹²⁾		Scope 1+2 GHG emissions are defined as the sum of direct emissions of GHG from sites or activities that are included in the scope of reporting for climate change-related indicators and indirect emissions resulting from the production of electricity, steam, heat or cooling, purchased or acquired, and consumed by the sites or activities included in the scope of reporting for climate change-related indicators, net from potential energy sales, excluding purchased industrial gases (H₂). If not stated otherwise, TotalEnergies reports Scope 2 GHG emissions according to the market-based method defined by the GHG Protocol.
⁽¹³⁾		If not stated otherwise, TotalEnergies reports Scope 3 GHG emissions, category 11, which correspond to indirect GHG emissions related to the direct use phase emissions of sold products over their expected lifetime (i.e., the scope 1 and scope 2 emissions of end users that occur from the combustion of fuels) in accordance with the definition of the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard Supplement. The Company follows the oil & gas industry reporting guidelines published by IPIECA, which comply with the GHG Protocol methodologies. In order to avoid double counting, this methodology accounts for the largest volume in the oil and gas value chains, i.e. the higher of the two production volumes or sales for end use. The highest point for each value chain for the year 2026 will be determined with regard to the achievement over the whole year, with TotalEnergies providing estimates as the quarters progress. A stoichiometric emission factor (oxidation of molecules to carbon dioxide) is applied to these sales or production to obtain an emission volume. In accordance with the Technical Guidance for Calculating Scope 3 Emissions Supplement to the Corporate Value Chain (Scope 3) Accounting and Reporting Standard which defines end users as both consumers and business customers that use final products, and with IPIECA’s Estimating petroleum industry value chain (Scope 3) greenhouse gas emissions guidelines, under which reporting of emissions from fuel purchased for resale to non-end users (e.g. traded) is optional, TotalEnergies does not report emissions associated with trading activities.
⁽¹⁴⁾		Company production = E&P production + Integrated LNG production.
⁽¹⁵⁾		Effective tax rate = (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates – dividends received from investments – impairment of goodwill + tax on adjusted net operating income).
*		Net of fees and taxes, including coverage of employees share grant plans.
⁽¹⁶⁾		Sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. Sensitivities are estimates based on assumptions about TotalEnergies’ portfolio in 2026. Actual results could vary significantly from estimates based on the application of these sensitivities. The impact of the $-€ sensitivity on adjusted net operating income is essentially attributable to Refining & Chemicals.
⁽¹⁷⁾		In a 60-70 $/b Brent environment.
⁽¹⁸⁾		End-of-period data.
⁽¹⁹⁾		Includes 17.25% of the gross capacities of Adani Green Energy Limited, 50% of Clearway Energy Group and 49% of Casa dos Ventos.
⁽²⁰⁾		End-of-period data.

	3rd quarter	2nd quarter	3rd quarter
(M$)^(a)	2026	2026	2025
Sales	66,819	61,771	48,691
Excise taxes	(4,960)	(4,674)	(4,847)
Revenue from sales	61,859	57,097	43,844
Purchases, net of inventory variation	(35,205)	(38,308)	(27,191)
Other operating expenses	(8,719)	(8,038)	(7,591)
Exploration costs	(134)	(95)	(64)
Depreciation, depletion and impairment of tangible assets and mineral interests	(4,180)	(3,075)	(3,280)
Other income	146	330	778
Other expenses	(403)	(279)	(528)
Financial interest on debt	(821)	(817)	(808)
Financial income and expenses from cash & cash equivalents	266	245	265
Cost of net debt	(555)	(572)	(543)
Other financial income	391	482	366
Other financial expenses	(184)	(184)	(208)
Net income (loss) from equity affiliates	427	1,271	602
Income taxes	(5,080)	(3,154)	(2,423)
Consolidated net income	8,363	5,475	3,762
TotalEnergies share	8,263	5,438	3,683
Non-controlling interests	100	37	79
Earnings per share ($)	3.69	2.44	1.65
Diluted earnings per share ($)	3.66	2.41	1.64
(a) Except for per share amounts.

(M$)^(a)	9 months 2026	9 months 2025
Sales	182,753	150,572
Excise taxes	(14,281)	(14,153)
Revenue from sales	168,472	136,419
Purchases, net of inventory variation	(100,860)	(87,204)
Other operating expenses	(25,432)	(22,989)
Exploration costs	(362)	(242)
Depreciation, depletion and impairment of tangible assets and mineral interests	(10,461)	(9,536)
Other income	947	1,569
Other expenses	(1,907)	(1,106)
Financial interest on debt	(2,429)	(2,349)
Financial income and expenses from cash & cash equivalents	733	882
Cost of net debt	(1,696)	(1,467)
Other financial income	1,167	1,113
Other financial expenses	(591)	(660)
Net income (loss) from equity affiliates	2,515	1,794
Income taxes	(12,022)	(7,262)
Consolidated net income	19,770	10,429
TotalEnergies share	19,511	10,221
Non-controlling interests	259	208
Earnings per share ($)	8.82	4.53
Diluted earnings per share ($)	8.73	4.49
(a) Except for per share amounts.

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Integrated Power	9M26	9M25	9M26 vs 9M25
17.9	14.8	+21%	12.6	Net power production (TWh) *	44.3	35.5	+25%
9.6	9.6	-	8.2	o/w production from renewables	27.3	23.3	+17%
8.3	5.2	+61%	4.5	o/w production from gas flexible capacities	17.0	12.2	+39%
33.8	33.4	+1%	25.2	Portfolio of power generation net installed capacity (GW) **	33.8	25.2	+34%
21.5	21.1	+2%	18.7	o/w renewables	21.5	18.7	+15%
12.3	12.2	+1%	6.5	o/w gas flexible capacities	12.3	6.5	+88%
105.9	105.8	-	106.0	Portfolio of renewable power generation gross capacity (GW) ,*	105.9	106.0	-
37.9	37.4	+1%	32.3	o/w installed capacity	37.9	32.3	+17%
6.2	6.1	+1%	6.0	Clients power - BtB and BtC (Million) **	6.2	6.0	+3%
2.7	2.7	-1%	2.7	Clients gas - BtB and BtC (Million) **	2.7	2.7	-1%
11.9	11.6	+3%	10.6	Sales power - BtB and BtC (TWh)	38.7	35.6	+9%
10.6	14.5	-27%	11.6	Sales gas - BtB and BtC (TWh)	56.6	62.2	-9%
* Solar, wind, hydroelectric and gas flexible capacities.
** End of period data.
*** Includes 17.25% of Adani Green Energy Ltd’s gross capacity, 50% of Clearway Energy Group’s gross capacity and 49% of Casa dos Ventos’ gross capacity.

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Refinery throughput and utilization rate	9M26	9M25	9M26 vs 9M25
1,555	1,426	+9%	1,478	Total refinery throughput (kb/d)	1,535	1,538	-
426	354	+21%	481	France	414	460	-10%
688	684	+1%	595	Rest of Europe	683	618	+11%
441	389	+13%	402	Rest of world	438	461	-5%
88%	80%		84%	Utilization rate based on crude only*	86%	87%	-
* Based on distillation capacity at the beginning of the year

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Petrochemicals production and utilization rate	9M26	9M25	9M26 vs 9M25
1,165	1,100	+6%	1,326	Monomers* (kt)	3,448	3,740	-8%
1,152	1,165	-1%	1,174	Polymers (kt)	3,476	3,474	-
75%	71%		84%	Steam cracker utilization rate**	73%	79%	-
* Olefins.
** Based on olefins production from steam crackers and their treatment capacity at the start of the year.

3Q26	2Q26	3Q26 vs 2Q26	3Q25	Sales in kb/d*	9M26	9M25	9M26 vs 9M25
1,218	1,213	-	1,269	Total Marketing & Services sales	1,221	1,286	-5%
711	732	-3%	744	Europe	719	749	-4%
507	481	+5%	525	Rest of world	502	537	-6%
* Excludes trading and bulk refining sales.

(M$)	9 months 2026	9 months 2025
Consolidated net income	19,770	10,429
Other comprehensive income
Actuarial gains and losses	22	14
Change in fair value of investments in equity instruments	9	(32)
Tax effect	(7)	–
Currency translation adjustment generated by the parent company	(2,960)	8,688
Items not potentially reclassifiable to profit and loss	(2,936)	8,670
Currency translation adjustment	2,602	(6,939)
Cash flow hedge	3,901	(1,014)
Variation of foreign currency basis spread	12	25
Share of other comprehensive income of equity affiliates, net amount	545	(386)
Other	4	12
Tax effect	(998)	237
Items potentially reclassifiable to profit and loss	6,066	(8,065)
Total other comprehensive income (net amount)	3,130	605
Comprehensive income	22,900	11,034
– TotalEnergies share	22,641	10,760
– Non-controlling interests	259	274

	September 30, 2026	June 30, 2026	December 31, 2025	September 30, 2025
(M$)	(unaudited)	(unaudited)		(unaudited)
ASSETS
Non-current assets
Intangible assets, net	34,488	35,631	37,345	37,764
Property, plant and equipment, net	115,021	117,889	114,694	115,198
Equity affiliates: investments and loans	47,632	44,663	38,090	36,968
Other investments	1,977	2,099	1,914	2,046
Non-current financial assets	3,551	2,702	3,270	2,426
Deferred income taxes	2,111	2,939	3,358	3,633
Other non-current assets	2,816	2,573	2,915	2,990
Total non-current assets	207,596	208,496	201,586	201,025
Current assets
Inventories, net	26,887	21,373	16,663	17,058
Accounts receivable, net	24,712	21,184	18,559	19,735
Other current assets	40,474	28,976	20,437	21,833
Current financial assets	3,595	4,039	3,332	4,884
Cash and cash equivalents	34,208	27,678	26,202	23,415
Assets classified as held for sale	4,456	2,015	4,276	4,009
Total current assets	134,332	105,265	89,469	90,934
Total assets	341,928	313,761	291,055	291,959

LIABILITIES & SHAREHOLDERS' EQUITY
Shareholders' equity
Common shares	7,280	7,280	7,059	7,059
Paid-in surplus and retained earnings	146,280	139,898	125,860	125,073
Currency translation adjustment	(14,182)	(14,146)	(14,033)	(13,853)
Treasury shares	(6,680)	(4,624)	(4,003)	(2,998)
Total shareholders' equity - TotalEnergies share	132,698	128,408	114,883	115,281
Non-controlling interests	4,268	2,545	2,640	2,384
Total shareholders' equity	136,966	130,953	117,523	117,665
Non-current liabilities
Deferred income taxes	14,181	13,347	12,634	12,830
Employee benefits	2,006	1,996	2,018	1,991
Provisions and other non-current liabilities	18,721	18,734	17,322	20,096
Non-current financial debt	49,090	49,525	48,995	49,552
Total non-current liabilities	83,998	83,602	80,969	84,469
Current liabilities
Accounts payable	47,176	41,438	38,065	38,062
Other creditors and accrued liabilities	57,374	43,108	36,344	35,266
Current borrowings	13,901	13,183	12,038	13,820
Other current financial liabilities	180	209	388	568
Liabilities directly associated with the assets classified as held for sale	2,333	1,268	5,728	2,109
Total current liabilities	120,964	99,206	92,563	89,825
Total liabilities & shareholders' equity	341,928	313,761	291,055	291,959

3rd quarter 2026	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	1,644	3,470	4,221	30,778	26,693	13	–	66,819
Intersegment sales	10,528	1,934	1,985	11,409	228	33	(26,117)	–
Excise taxes	–	–	–	(188)	(4,772)	–	–	(4,960)
Revenues from sales	12,172	5,404	6,206	41,999	22,149	46	(26,117)	61,859
Operating expenses	(4,481)	(2,939)	(5,472)	(36,267)	(20,804)	(212)	26,117	(44,058)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,017)	(405)	(1,017)	(428)	(282)	(31)	–	(4,180)
Net income (loss) from equity affiliates and other items	229	610	199	(584)	(47)	(30)	–	377
Tax on net operating income	(2,873)	(648)	(136)	(1,306)	(328)	109	–	(5,182)
Adjustments^(a)	(127)	137	(822)	(187)	221	(23)	–	(801)
Adjusted net operating income	3,157	1,885	602	3,601	467	(95)	–	9,617
Adjustments^(a)								(801)
Net cost of net debt								(453)
Non-controlling interests								(100)
Net income - TotalEnergies share								8,263
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

2nd quarter 2026	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	1,830	1,880	3,846	28,792	25,422	1	–	61,771
Intersegment sales	9,221	2,258	1,511	11,058	260	41	(24,349)	–
Excise taxes	–	–	–	(164)	(4,510)	–	–	(4,674)
Revenues from sales	11,051	4,138	5,357	39,686	21,172	42	(24,349)	57,097
Operating expenses	(3,629)	(3,469)	(5,105)	(37,806)	(20,465)	(316)	24,349	(46,441)
Depreciation, depletion and impairment of tangible assets and mineral interests	(1,920)	(413)	(74)	(404)	(233)	(31)	–	(3,075)
Net income (loss) from equity affiliates and other items	292	767	302	204	86	(31)	–	1,620
Tax on net operating income	(2,570)	(167)	(36)	(259)	(183)	12	–	(3,203)
Adjustments^(a)	(7)	49	(89)	(379)	(123)	(48)	–	(597)
Adjusted net operating income	3,231	807	533	1,800	500	(276)	–	6,595
Adjustments^(a)								(597)
Net cost of net debt								(523)
Non-controlling interests								(37)
Net income - TotalEnergies share								5,438
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

3rd quarter 2025	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
(M$)	Exploration & Production	Integrated LNG	Integrated Power	Refining & Chemicals	Marketing & Services	Corporate	Intercompany	Total
External sales	1,392	1,995	3,955	21,205	20,138	6	–	48,691
Intersegment sales	8,892	1,587	434	7,122	234	38	(18,307)	–
Excise taxes	–	–	–	(201)	(4,646)	–	–	(4,847)
Revenues from sales	10,284	3,582	4,389	28,126	15,726	44	(18,307)	43,844
Operating expenses	(4,200)	(2,880)	(3,863)	(27,069)	(14,916)	(225)	18,307	(34,846)
Depreciation, depletion and impairment of tangible assets and mineral interests	(2,145)	(376)	(103)	(380)	(243)	(33)	–	(3,280)
Net income (loss) from equity affiliates and other items	522	492	(52)	75	(24)	(3)	–	1,010
Tax on net operating income	(2,055)	(97)	(110)	(143)	(177)	115	–	(2,467)
Adjustments^(a)	237	(131)	(310)	(78)	(14)	(22)	–	(318)
Adjusted net operating income	2,169	852	571	687	380	(80)	–	4,579
Adjustments^(a)								(318)
Net cost of net debt								(499)
Non-controlling interests								(79)
Net income - TotalEnergies share								3,683
(a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value.

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